$0.15 EPS Expected for Pinnacle Entertainment Inc (PNK) This Quarter

Wall Street analysts forecast that Pinnacle Entertainment Inc (NASDAQ:PNK) will post earnings of $0.15 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Pinnacle Entertainment’s earnings. The lowest EPS estimate is ($0.04) and the highest is $0.33. Pinnacle Entertainment posted earnings of $0.10 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The business is expected to issue its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Pinnacle Entertainment will report full-year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.62 to $1.00. For the next financial year, analysts expect that the business will report earnings of $1.08 per share, with EPS estimates ranging from $0.57 to $1.62. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Pinnacle Entertainment.

Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. The company had revenue of $647.40 million for the quarter, compared to the consensus estimate of $652.13 million. During the same quarter in the previous year, the business earned ($0.01) EPS. Pinnacle Entertainment’s revenue was up 8.8% compared to the same quarter last year.

A number of analysts have recently commented on the company. BidaskClub cut Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Citigroup cut Pinnacle Entertainment to a “hold” rating in a research report on Tuesday, December 19th. Susquehanna Bancshares reiterated a “neutral” rating on shares of Pinnacle Entertainment in a research note on Tuesday, December 19th. Macquarie lowered shares of Pinnacle Entertainment from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 19th. Finally, ValuEngine lowered Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.57.

Shares of Pinnacle Entertainment (NASDAQ PNK) traded down $0.12 during trading hours on Monday, reaching $32.28. The company had a trading volume of 630,300 shares, compared to its average volume of 660,029. Pinnacle Entertainment has a 52 week low of $13.61 and a 52 week high of $33.59. The stock has a market cap of $1,890.00 and a P/E ratio of 64.56. The company has a debt-to-equity ratio of -11.36, a quick ratio of 0.68 and a current ratio of 0.71.

Several large investors have recently modified their holdings of PNK. JPMorgan Chase & Co. lifted its stake in shares of Pinnacle Entertainment by 469.3% during the second quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock worth $29,308,000 after buying an additional 1,222,680 shares during the period. Renaissance Technologies LLC lifted its position in Pinnacle Entertainment by 339.8% during the second quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock valued at $20,378,000 after purchasing an additional 796,800 shares during the period. Sound Point Capital Management LP lifted its position in Pinnacle Entertainment by 35.8% during the second quarter. Sound Point Capital Management LP now owns 638,102 shares of the company’s stock valued at $12,609,000 after purchasing an additional 168,203 shares during the period. Comerica Bank increased its holdings in Pinnacle Entertainment by 26.8% in the third quarter. Comerica Bank now owns 106,947 shares of the company’s stock valued at $2,740,000 after buying an additional 22,612 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in Pinnacle Entertainment by 31.4% in the second quarter. Cubist Systematic Strategies LLC now owns 16,711 shares of the company’s stock valued at $330,000 after buying an additional 3,991 shares in the last quarter. 82.19% of the stock is currently owned by institutional investors and hedge funds.

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Pinnacle Entertainment Company Profile

Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment businesses. The Company operates through three segments: Midwest, South and West. The Company’s Midwest segment includes Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.

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